Lithium Iron Phosphate (LiFePO4) is a type of lithium-ion battery chemistry known for its stability and safety. It is commonly used in electric vehicles and renewable energy storage systems due to its long cycle life and resistance to overheating. This makes it a popular choice for applications where safety is a priority. LiFePO4 batteries have a lower energy density compared to other lithium-ion batteries, such as those using Lithium Cobalt Oxide. However, they offer advantages like faster charging times and a longer lifespan, making them suitable for various applications, including power tools and solar energy systems.